Wednesday, October 21, 2020
Zoom meeting room
Online registration is now closed. If you would like to attend, please email info@naiopmn.org.
Virtual Roundtable: Real Estate Insurance Rates Are Going Viral!
How sick will it make your 2021 budget?
If you don’t know it yet, real estate is facing the largest rate increases and the worst insurance buying conditions in nearly 40 years. Tenants are also facing these conditions. Occupancy costs will be rising in an already challenging market.
The rate increases are
SIGNIFICANT: Double-digit for most types of insurance.
- Property insurance: Increasing 10-30%
- General Liability: Increasing 8-15%
- Umbrella and Excess Liability: Increasing 30-150%
We know this can be a dry topic, but you’ll want to be one of the 30 members to know the compelling impact on your 2021 and 2022 budget. Many NAIOP members have not seen the impact on rates in these market conditions. Frankly, their insurance brokers haven’t either.
In this free virtual roundtable, we’ll talk on strategies and tips when facing premium increases. There are also implications with possible caps on jury awards and with government sponsored COVID-19 liability insurance.
DISCUSSION LEADERS:
- Matt Schneider, Associate Director, Willis Towers Watson North America
- Kevin Howat, NAIOP Minnesota Public Policy Director. Kevin also has 25 years working in property management.
We encourage you to keep your camera on and ask questions during the Zoom meeting.